EB Watch List Update Report

Dear Members: MARKET NOTE: The rise in the VIX the past few sessions was telling us that fear had returned to the market and today it's up another 10% as traders move to the sidelines. All of the major indexes are lower with the S&P so far holding key support. The selling comes just as earnings season is ready to kick into high gear, starting with some major banks tomorrow morning. The minutes from the FOMC meeting yesterday threw traders for a loop with the notion that the Fed will raise rates later this year possibly debunked. And as usual such uncertainty does not set well with traders. Tech stocks are not getting a pass today like they have for quite a while with the NASDAQ down in lockstep with the Dow and S&P. And the Dow dipped back below the psychological level of 18,000 earlier as it fell below recent support. None of the major indexes is technically oversold here, paving the way for further selling if traders continue to lay low. So far the S&P has held key support near 2120. But it dipped below earlier, touching 2114 before rebounding some. So now 2114 becomes support in the very near term. To the upside there's a lot of repair work to be done before the bulls can regain the technical advantage. KEY EARNINGS REPORTS Companies reporting earnings today (October 13) include: DAL, PGR and WYN Companies reporting earnings tomorrow (October 14) include: C, JPM, PNC and WFC ADDITIONS TO WATCH LISTS: Will let you know if there are any additions to the Watch List. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List DV - Stock is down slightly as it struggles to stay above its 20 and 50 day moving averages. Would like to see it close back above $23 or could be vulnerable to additional selling. EAT - Stock is lower by over 1% as it has pulled back close to our initial entry price. DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats